Molybdenum metal has risen by more than 20% in the past four months, and there may still be room for further increases.

Due to its high melting and boiling points, density, strength, excellent electrical and thermal properties, molybdenum is used in high-temperature alloy components of aircraft engines, heat sinks for CPUs and GPUs, military industry, and other fields, earning it the nicknames "war metal" and "industrial vitamin." Since the price hike in April 2025, the price of molybdenum concentrates in Henan has continued to rise. Data from Shanghai Steel Union shows that on July 24th, the local price of molybdenum concentrates had reached 4005 yuan per ton, an increase of 23.4% from the year's low point. At the same time, the price of molybdenum iron also rose to 253,000 yuan per ton, an increase of 23.9%. In the capital market, molybdenum resource stocks have surged, with Jinduicheng Molybdenum Co., Ltd. hitting the limit up, and Luoyang Molybdenum and Gucheng Mining seeing increases of 4.44% and 4.89% respectively. Interviewees have indicated that there is limited new capacity for molybdenum mining in China, leading to tight supply, and there may still be room for further price increases in the future.